News

The EU economic and financial landscape – and economic governance – continues to evolve in 2017.

Annual inflation up to 1.9% in the euro area, up to 2.0% in the EU.

The Commission has welcomed the vote by Members of the European Parliament’s Budgets and Economic and Monetary Affairs committees in which they agreed on their position on extending, expanding and reinforcing the European Fund for Strategic Investments (EFSI), the so-called “EFSI 2.0”. It is now up to the Parliament and Member States to reach agreement on final adoption of the EFSI 2.0 proposal.

The Commission published a reflection paper on 10 May that opens up a vital debate on how the EU can best harness globalisation and respond to its opportunities and challenges.

Euro area finance ministers welcomed the preliminary agreement reached between Greece and the EU on a new set of policy reforms to support the country's economic recovery.

Post-programme surveillance mission to Ireland: outlook for economy remains bright but external risks significant.

The European Semester Spring package presented on 22 May takes account the conclusions of and follows up on February's European Semester Winter Package, including on the Macroeconomic Imbalances Procedure.

On 22 May 2017, the Commission recommended that the Excessive Deficit Procedures be closed for Croatia and Portugal.

“Economic trends are overall positive and we should use this window of opportunity to make European economies more competitive, resilient and innovative.”

On 22 May, the Commission presented its 2017 country-specific recommendations (CSRs), setting out its economic policy guidance for individual Member States for the next 12 to 18 months.

Public consultation on potential restrictions on large payments in cash. Deadline 31 May

Public consultation on the operations of the European Supervisory Authorities (ESAs). Deadline 16 May

The integration of the Baltic economies

The EU economic and financial landscape – and economic governance – continues to evolve in 2017.

To celebrate Europe Day, the EU institutions opened their doors to the public on 6 May in Brussels and across Europe and the world. ECFIN welcomed visitors to the Berlaymont Building in Brussels where its stand marked 15 years of euro coins and banknotes, and presented how the EU is supporting investment in Europe through the EUR 315 billion European Investment Plan. The stand also provided visitors with the latest information on how the EU and the euro area have strengthened their economic coordination over the past several years.

Seasonally adjusted GDP rose by 0.5% in the euro area and by 0.4% in the EU during the first quarter of 2017, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the EU.

The Port of Barcelona is receiving a EUR 75 million loan from the European Investment Bank (EIB) to finance the construction of new logistics and warehousing facilities.

On 28 April, the Commission, on behalf of the EU, approved the disbursement of the second tranche of EUR 23 million under its Macro-Financial Assistance (MFA) to Georgia.

Staff from the Commission, in liaison with staff from the European Central Bank, carried out the seventh post-programme surveillance visit to Spain on 24-26 April.

Commenting on the preliminary agreement reached with Greece on 2 May, Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxations and Customs, made the following statement on the negotiations with Greece: “The agreement reached overnight in Athens on the Greek Stability Support Programme is a very positive development following months of complex negotiations.